Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of increasing the minimum juice content in HMRC's definition of cider from 35 per cent to 50 per cent for the purpose of taxation.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
As announced at Autumn Budget 2021, the Government will build on Small Brewers Relief to extend small producer reliefs, including to cidermakers. The technical details of our new small producer reliefs will be finalised through the alcohol duty review consultation process.
The Government will explore the merits of increasing the minimum juice content through our alcohol duty review consultation.
Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing a progressive duty system for small cider producers.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
As announced at Autumn Budget 2021, the Government will build on Small Brewers Relief to extend small producer reliefs, including to cidermakers. The technical details of our new small producer reliefs will be finalised through the alcohol duty review consultation process.
The Government will explore the merits of increasing the minimum juice content through our alcohol duty review consultation.
Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that the system of research and development tax reliefs provides support for research that uses and develops new approach methodologies including the use of (a) human cells and tissues, (b) artificial intelligence and (c) organ-on-a-chip technology.
Answered by Lucy Frazer
Research and Development (R&D) tax reliefs support companies carrying out projects which seek to make advances in science or technology through the resolution of scientific or technological uncertainty.
At Spring Budget 2021, the Government launched a wide-ranging review of R&D tax reliefs, which was supported by a consultation with stakeholders. The consultation also explored definitions, eligibility, and scope of the reliefs, to ensure they are up-to-date, competitive, and that they reflect how R&D activity is conducted now. The consultation ran from 3 March to 2 June 2021. The Government will respond in due course.
Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to review the help-to-buy ISA threshold in light of rising house prices.
Answered by John Glen
The Help to Buy: ISA scheme aims to help those struggling to save enough to get onto the housing ladder. The property price cap allows the Government to target support at the first-time buyers who need it the most. The scheme includes a higher property value cap of £450,000 for properties in London compared to £250,000 anywhere else in the UK.
The latest statistics show that since the scheme was launched in 2015 410,075 property completions, including more than 26,000 completions in London, have been supported through the scheme with a mean property value of £175,010 compared to an average first-time buyer house price of £222,712. The Government keeps all aspects of savings policy under review.
Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 24 May 2021 to Question 3084 on Net Zero Review, for what reason his Department did not publish the final report of his Department’s Net Zero Review in spring 2021; and what recent progress his Department has made on publishing that report.
Answered by Kemi Badenoch - Leader of HM Official Opposition
HM Treasury’s Net Zero Review final report will be published in due course, and in advance of COP26.
It will be an analytical report that uses existing data to explore the key issues and trade-offs as the UK decarbonises. Against a backdrop of significant uncertainty on technology and costs, as well as changes to the economy over the next 30 years, it focuses on the potential exposure of households and sectors to the transition, and highlights factors to be taken into account in designing policy that will allocate costs over this time horizon. In line with the Review’s terms of reference, the report will not include policy recommendations.
The Review forms part of a cross-government effort to support the UK’s transition to net zero. The government’s Net Zero Strategy will be published later this year.
Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of the proposal by the games industry to increase video games tax relief from 25 per cent to 32 per cent.
Answered by Jesse Norman - Shadow Leader of the House of Commons
In 2019-20 the Video Games Tax Relief (VGTR) supported UK expenditure of £355 million on the production of 150 video games.
The Government keeps all tax reliefs under review, and regularly receives proposals for changes to tax reliefs. When considering changes, HM Treasury must ensure they provide support to businesses across the economy in a fair way.
Asked by: Alex Sobel (Labour (Co-op) - Leeds Central and Headingley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to prevent insurance companies from implementing high increases to annual indemnity insurance costs during the covid-19 outbreak for small companies who have not had to make a claim.
Answered by John Glen
Insurers make decisions about the terms on which they will offer cover following an assessment of the relevant risks. The respective capabilities of insurers to assess risk is a key element on which they compete. This competition is important and leads to better products and lower prices for consumers.
Insurers must treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules. In addition, the FCA has said that, in light of COVID-19, insurers must consider very carefully the needs of their customers and show flexibility in their treatment of them.
The Government is working closely with the FCA to ensure that the rules are being upheld during this crisis and fully supports the regulator in its role.